Executive Summary

Personal finance management (PFM) tools allow financial services providers to create highly personalized customer experiences and drive revenue and retention in turn — but banks are falling short of customers' expectations.

Three Key Questions This Report Will Answer:

• What new PFM features are fintechs offering that incumbents will have to emulate to meet consumer expectations?
• What strategies for success can incumbents follow to successfully build PFM apps in-house; and which white-label/B2B fintechs can they partner/consider acquiring if they don’t want to build from scratch?
• What do the most mature and sophisticated PFM features today look like, and what characteristics do they have in common?

WHAT’S IN THIS REPORT? In this report, Business Insider Intelligence explores what innovative PFM providers are doing right to deepen customer relationships, and what elements of their strategies banks can replicate to reap ROI on the technology. We conducted exclusive interviews with seven providers of PFM offerings that illustrate the mature end of the PFM spectrum, and profile each feature in detail to provide insight into what qualities PFM features have to possess in today's competitive market to really make a difference in consumers' lives, as well as what banks stand to gain by getting PFM right.